UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

Current Report

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 8, 2003

Best Buy Co., Inc.

(Exact name of registrant as specified in its charter)

Minnesota

(State or other jurisdiction of incorporation)

1-9595		41-0907483
(Commission File Number)		(IRS Employer Identification No.)

7075 Flying Cloud Drive Eden Prairie, Minnesota		55344
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (952) 947-2000

N/A

(Former name or former address, if changed since last report.)

ITEM 5. OTHER EVENTS.

We announced in a press release on January 9, 2003, that we expect to realign our Musicland business into our domestic Best Buy stores operations. As a result, the position of Musicland president has been eliminated, and Kevin Freeland, the former president of Musicland, has left the Company.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	BEST BUY CO., INC.
	(Registrant)

Date: January 10, 2003	By:	/s/ Darren R. Jackson
	Darren R. Jackson
	Executive Vice President — Finance and
	Chief Financial Officer